The NASDAQ Composite, the FTSE, the S&P 500 and the Shanghai Composite rose 1% each, while the Hang Seng ended flat. The Nikkei advanced 4%.
Shipping companies were in demand during the fortnight. Pipavav Defence & Offshore Engg Co, ABG Shipyard, Bharati Shipyard, Mercator and Shipping Corporation of India advanced 20%, 18%, 17%, 9% and 8%, respectively.
Oil & gas companies were punished. Oil & Natural Gas Corporation, Selan Exploration Technology, Cairn India declined 7%, 6% and 5%, respectively, while GAIL (India) and Gujarat Gas Co ended flat.